Our agents are hard at work and haven’t seen much of a slow down, which we typically would this time of year. But we are still seeing homes going under contract quickly, especially in the $450,000 or less price range.
Recently, after 11 days on the market, 1924 Berkshire Ln went under contract. We had competing offers and now have a signed contract over list price. This is the ideal situation for a seller, when buyer’s are literally fighting over the seller’s property.
Remember too, that although many homes are going under contract the same day, they are listed or within a few days, our average days on market in the Colorado Springs area is currently 29 days on market. Even 11 days is still less than the average and makes for a happy seller.
Now, the process begins of going through the contract deadlines and the buyer’s opportunity to do an inspection, appraisal and look through important documents and information which allows them to make sure this is the exact property they want. Everything from confirming they can get homeowners insurance for the home, to the process of inspecting the home for any major defects or safety issues.
Truth be told, the Colorado Real Estate contract is definitely written in favor of the buyer. It gives you the the ability to set up multiple deadlines and opportunities to gather information and due diligence to check just about any resources that may influence your decision to buy a home and get a loan that’s satisfactory. That’s a great thing for you as a buyer! Talk to your favorite real estate agent for more details about your rights and opportunities as a homebuyer.
We’ll keep you update on that status of this property, plus you can always use our website to search and find the perfect home for you.